Öljyyhtiöt

Öljyyhtiöt, or oil companies, are businesses involved in the exploration, extraction, refining, transportation, and marketing of petroleum products. These companies play a crucial role in the global energy supply chain, providing the fuel that powers transportation, industries, and households. The oil industry is characterized by its significant capital investment, complex operations, and global reach.

The process typically begins with exploration, where geologists and geophysicists search for potential oil reserves. Once promising sites are identified, drilling operations commence to extract crude oil. The crude oil is then transported, often via pipelines or tankers, to refineries. At refineries, crude oil is processed into various products such as gasoline, diesel fuel, jet fuel, heating oil, and petrochemicals.

Major oil companies, often referred to as supermajors, are vertically integrated, meaning they control multiple stages of the oil production process. Smaller companies may specialize in specific areas, such as exploration and production (upstream), or refining and marketing (downstream). The industry is subject to volatile global oil prices, geopolitical influences, and increasing environmental regulations. Companies are increasingly investing in renewable energy sources and technologies to diversify their portfolios and address climate change concerns.